Can cryptocurrency make real money disappear? - page 40.

poplolnman

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Quote from: Omega Weapon on November 23, 2017, 07:56:04 PM

Quote from: szpalata on November 19, 2017, 05:51:28 PM

Quote from: Omega Weapon on November 19, 2017, 05:00:47 PM

Quote from: Destroyeroff98 on November 16, 2017, 08:28:47 AM

Quote from: isabella01 on June 13, 2017, 02:38:16 AM

What are the chances of living in a world with no actual money ? Shocked

The chance is very, very small. In each country there should be a state currency. I can not even imagine what can take away the national currency.

A big economic crisis, there are countries that no longer print their own currency and most of the time those economies use the US dollar as a replacement which is not that good of an idea because once the dollar begins to fail then their economies are going to fail as well, but they do not have too much of a choice since their governments have showed they cannot be trusted with the responsibility to print their own currency.

Well even with this example i don't think any serious country will consider bitcoin a substitute for its national currency no matter how bad their situation is. There are times when every economy experiences some bad drops and foreign currencies seem to be rising against its national currency but wth the right controls they are able to stabilize it and the same cannot be said of he volatile bitcoin.

Bitcoin does not need to replace a national currency in every single case, as long as people begin to use it instead of it then bitcoin is already performing that function, and there are countries where this is already happening like in Venezuela, besides bitcoin is great as a store of value in countries like that where your currency is always losing value.

yeah with bitcoin your money wouldn't get affected with thing called global inflation , bitcoin really protect your value in such things and that's enough for everyone to consider and choose bitcoin rather than the conventional money , don't need to expect real money get disappeared. as time goes by people would realize which one gives you more benefit and which one aren't.

Javanewstar

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The Experience Layer of the Decentralized Internet

Obviously impossible, after all, in the absence of a network, you have to rely on real money to spend, if you lose the Internet, then Bitcoin has become worthless,

Nivir

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Online money are also real money and people must learn to accept and adopt it because that is the future. Perhaps little transactions will be used especially in rural areas but big transactions, large fund transfers in cities and other developed places digital money will become mainstream and a better way.

Dreamr

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In time, technology changes everything. Of course, cryptocurrency can replace fiat the same way how paper money replaces the gold coin about 100 years ago.

diegz

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Quote from: redcucumber on November 24, 2017, 01:24:25 AM

Maybe we are not sure but for now it cannot make fiat disappear because bitcoin needs fiat so people can buy bitcoin and for bitcoin to gain market.. Its still dependent on fiat but we don't know when will bitcoin really become the only medium of exchange it may and it may not there is no certain in this world

It won't happen too soon or probably won't. Each currency is almost symbolizing the country of its origin. Governments would not just allow it to happen and the fame and convenience of using fiat in real life is still is still untarnished.

I do believe that if each transaction fee won't be shouldered by the bitcoin user each time we are transferring bitcoin to other wallet(wishful thinking), that would make fiat disappear faster than we ever think.

redcucumber

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SOLARIS COIN

Maybe we are not sure but for now it cannot make fiat disappear because bitcoin needs fiat so people can buy bitcoin and for bitcoin to gain market.. Its still dependent on fiat but we don't know when will bitcoin really become the only medium of exchange it may and it may not there is no certain in this world

Godric-Gryffindor

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Historically that would be impossible fiat use by the government to make gold and silver or even bronze don't go shorted even though we can trade goods by goods, fiat together with gold and siver is the standard of value for anything tradable goods

skyflakes88

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NO, both can co-exist with each other bitcoin might got really high and can make an entirely different new industry which involves the usage of block chain in our established industry in the society it will be much easier and faster relatively the advancement of technology in our daily lives

dalat

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The disconnect between what we view as real money, and everything else is a barrier that will be impossible to bridge, especially in our life time.

LynielZbl

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That is not possible, because the Fiat money also represents a country, and the government also supports it. If the Fiat money is lost and replace the cryptocurrency, I think that the blackmarket trend will grow.

dalat

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It's true that bitcoin is accepted in some countries but still they are just co-exists with real money

19faraon88

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I think, cryptocurrency can't real money disappear. But cryptocurrency like bitcoin could change our traditional transaction and make transaction easier. Their still small business or store need to used real money for their transaction. But I know Bitcoin is the future.

devtmvss

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Perhaps in the near future, we can see that the dominant currency is encrypted, but the paper currency cannot disappear unless the government disappears. Cheesy

levvv

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back then a long ago, there is no trading tool such as money, human trades each other with goods. So, money is just a tool for trading.
For me it is possible to replace the tool with cryptocurrency.

bakunawaaa

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Dont thinm so. Huge part of the world population is are not frequent users of the internet and some dont even have access to the internet. Additionally, countries wont allow bitcoin to replace their very own local currencies because they cannot regulate it thoroughly.

hessanseen

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I think that in the next few years, the encrypted currency will occupy a certain market, and in the next twenty or thirty years, people will use the encrypted currency widely. But the paper money should not disappear, some transactions must have paper money, they should be very good combination, convenient for our life.

Thanushka47

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I don't think so. Crypto will more popular and cash might be outdated but will not go away.

superjeyy

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Quote from: mk4 on June 13, 2017, 02:40:33 AM

Quote from: isabella01 on June 13, 2017, 02:38:16 AM

What are the chances of living in a world with no actual money ? Shocked

Low. I think personally that cryptocurrencies wont make FIAT useless, but I think that cryptocurrencies will work hand-in-hand with FIAT money. Especially in countries like the United States, and the other first-world countries; I don't see FIAT going anywhere soon.

Yup, I agree with mjglqw. The usage of cryptocurrencies is beneficial to those who has access and knowledge about it, otherwise it's worthless to those who does not have. We have been using fiat for the longest time I can remember, and for it to be completely gone would affect the society drastically. As mjglqw said, fiat and cryptocurrency can co-exist and help one another for the betterment of the economy. Mass adaption won't also be a complication to experience since fiat will still be existing alongside crypptocurrency.

dalat

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Fiat currency will survive how long we last. And the same with crypto. Crypto and fiat can exist mutually and that situation is the best.

GreenBits

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Quote from: isabella01 on June 13, 2017, 02:38:16 AM

What are the chances of living in a world with no actual money ? Shocked

Slim to nil. Although cryptos are novel and efficient ways to transact/store value, since they dont have physicality they cant serve the same function that fiat does. fiat is perfect for essentially "off chain" transactions, what I mean is a physical, recognized value token that is prery easy to transact. you dont need the internet, you dont need any special technological devices or infrastructure. you just need the ability to do simple math, and a pocket.

maybe if we figure out a way to physically tokenize cryptos (hard, entirely too volatile), fiats will never be replaced. its harder to cheat when you arent using fiat Wink

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